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Bank Michigan

Medical Lending Practice

Banking Solutions for Your Medical Practice in Michigan

Bank Michigan has spent over 100 years providing community-first banking to the businesses and families of Southeast Michigan. Medical practices are integral to community wellbeing, and we want to help yours succeed. Our experienced lending team offers personalized attention to loan requests, customized flexible terms, and a promise to uphold an enduring relationship for the long-term growth of your practice. From medical to dental to veterinary practices, we’re here to provide you the services and solutions you need to assist your community.

Consider Us a Partner for the Success of Your Practice

We provide complete lending solutions for:

  • Medical Practices
  • Dental Practices
  • Surgery Centers
  • Chiropractors
  • Veterinary Practices

Medical Lending that Fits your Needs 

When it comes to launching, evolving, and expanding your practice, we're here to help you reach the next level of your success. With a personal, hands-on service mindset, we can assist you with:

Practice Ownership – We provide the tools and expertise needed to give your practice every possible advantage. From inception to transition and acquisitions, we have scalable solutions that can help you reach your potential. Count on our local team to provide lending solutions for: 

  • Practice Acquisitions Purchasing of an established practice, its staff, patient base, and equipment.
  • Partner Buy-outs – Acquiring the funds to buy an existing partner’s ownership stake.
  • Partner Buy-ins – Financing the cost of becoming a partner in an established practice.

Operations Support – We understand what it takes to make your medical practice run smoothly and grow smartly. From real estate financing to lines of credit, we have the support you’re looking for every step of the way. Our operations support can help you:

  • Purchase or Refinance Existing Debt – Remove the financial burden of an old loan by refinancing with better terms and rates.
  • Real Estate Purchases – Navigate the process of purchasing a new location.
  • Construction & Leasehold Improvements – Acquire funding for renovations and repairs.
  • Equipment Purchases – Make large purchases quick and easy.
  • Revolving Lines of Credit – Be ready for anything by having funds available when you need them.
  • Debt Refinancing/Consolidation – Combine your debt into one easy monthly payment.

Strategic Moves – When it comes to positioning your practice for success, we’re here to supply the strategic insight you need. Our medical practice lending team has the experience to help you make the right moves in the following areas:

  • Start-ups – Start a practice or a new chapter in your career.
  • Expansions – How to wisely expand your practice or purchase a new location.
  • Practice acquisitions – Take ownership of an established practice.
  • Sale to partners – Navigate the process of a buy-in or buy-out

Real Estate Financing – Smooth, seamless operations and the success of your practice are important to you. Financing to find and set up the ideal location shouldn’t be an endless challenge. Offering specialized rates for loans and financing, lower monthly payments, and improved cash flow, we’re here to truly boost your bottom line. As a Bank Michigan customer, your medical practice can take advantage of:

  • Select Rates (Preferred Physician Pricing) for Practice and Real Estate Financing
  • Flexible Loan to Values
  • Lower Monthly Payments 
  • Improved Cash Flow

We provide tangible solutions for your practice.

The right solution at the right time: that's our specialty. When it comes to delivering the tools you need to evolve and grow your practice, we're ready to help.

Generous Advance Rates – At Bank Michigan, we can fund up to 100% of your loan when purchasing medical equipment. This can save you from having to inject cash into your practice for equipment purchases. We focus on your purchase; so you can focus on your practice.

Flexible Loan Terms – We can amortize equipment loans for up to 10 years, making our terms unrivaled. Flexible loan terms allow for lower monthly payments, improved monthly cash flow, and a robust, steadily growing bottom line.

Fixed Rate Options – Our fixed rate loans for medical, chiropractic, veterinarian, and dental practices are locked for up to 10 years. This way, you can be confident knowing that your rates will remain stable for the foreseeable future. 

Loan Covenants – Maintain a specific debt service covenant? Not here!

At Bank Michigan, we look at the global debt service coverage (personal and practice together). This makes it easier for you to take out higher annual distributions/compensation. Together, we craft what your financial future will look like and commit to it.*

*Except in cases where limited guarantees are in place. 

Limited Personal Guarantee – On a case-by-case basis, we offer limited personal guarantees to boost your confidence and provide peace of mind to you and your partners. If your practice has four or more owners, Bank Michigan can obtain a limited personal guarantee at a minimum of 110% of the individual’s ownership percentage. 

To meet our Medical Practice Lending team and learn more about how we can make your practice stronger, come by one of our branches. Can’t make it to the bank? Contact us online.

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